Knoxville Oakwood Fourplex
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Knoxville.
Purchase price: $85,000
Cash invested: $185,000
4 unit in Knoxville
What made you interested in investing in this type of deal?
I'm always buying this type of deal
How did you find this deal and how did you negotiate it?
Across the street from a flip- got the phone number from the guy mowing
How did you finance this deal?
Used my own money and then cashed out with credit union financing
How did you add value to the deal?
Renovation
What was the outcome?
250k plus my total investment back in my pocket and $500/mo for life
Lessons learned? Challenges?
Use city archives to determine if property was legally converted to multi unit. If it was, you can skip a lot of processes from the city when installing multiple electric meters
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Victoria Melhorn is the best realtor for landing these deals
